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Power rental is a business in which power rental companies provide a set of temporary power plants in remote areas, which have limited access to transmission and distribution lines, These are widely in demand amongst the manufacturing industries, oil & gas and construction industry.
According to MarkNtel Advisors’ research report titled “Saudi Arabia Power Rental Market Analysis, 2020”, the Power Rental market is projected to register a CAGR of around 12% during 2020-25. The construction sector acquired a considerable market share in the Saudi Arabia Rental market in 2019. The establishment of new buildings in the commercial and residential sector is strongly contributing to the requirement for diesel generators for power backup.
Moreover, the increasing number of tourist arrivals is positively impacting the growth of hospitality sector. The establishment of new hotels in the country is projected to boost the demand for rental power. For instance, in 2019, Hilton and Shomoul Holding Co., signed a contract to build four new hotels in The Avenues- Riyadh. The USD 3.4 billion project is expected to include hotels, exhibition space, conference halls, residential apartments, offices, and medical facilities and is projected to be completed by 2023. Hence, the increasing construction activities are anticipated to surge the requirement for rental power thereby strongly contributing to the growth of Saudi Arabia Power Rental market in the years to come.
The diesel generator segment captured the highest market share in the Saudi Arabia Power Rental market in 2019 on an account of the growing requirement to supply power in off-grid and remote areas. The ease of access to the fuel and portability are some of the major factors impacting the demand for diesel generators.
According to MarkNtel Advisors, the key players capturing a substantial market share in the Saudi Arabia Power Rental market include Al-Futtaim Auto Machinery Co., Aggreko, Byrne Equipment Rental, Cummins, Energy Equipment Rental Co., Hertz Dayim Equipment Rental, Peax Equipment Rental, etc.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What would be the growth rate or CAGR Saudi Arabia Power Rental Market during 2020-25?
A. The market size of Saudi Arabia Power Rental Market during 2020-25 is forecast to be around 12%.
Q. Which sector would grab the highest market share during 2020-25?
A. It is forecast that hospitality and commercial sector of Saudi Arabia is dominating the market with majority market share, with market size registering considerably higher CAGR.
Q. Who are the key competitors or players operating in Saudi Arabia Power Rental Market?
A. Al-Futtaim Auto Machinery Co., Aggreko, Byrne Equipment Rental, Cummins, Energy Equipment Rental Co., Hertz Dayim Equipment Rental, Peax Equipment Rental and few others are the leading players in the Saudi Arabia Power Rental Market.
Q. Does the report scope cover region wise market statistics also?
A. Yes, the scope of the report encompass detailed region statistics such as market size, market segmentation, market overview based on various subcategories.
Q. Which type segment would emerge as an opportunity area for players in Saudi Arabia Power Rental Market?
A. The diesel generator captured the highest market share in the Saudi Arabia power rental market in 2019 on account of the growing requirement to supply power in off-grid and remote areas. The ease of access to the fuel and portability is one of the major factors impacting the demand for diesel generators.
